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Lear Corporation Issues Senior Notes

19 May 1999

Lear Corporation Issues Senior Notes

    SOUTHFIELD, Mich., May 18 -- Lear Corporation
today announced that it has issued $1.4 billion aggregate principal amount of
senior notes.  The private offering included $800 million of 10-year notes
bearing interest at a rate of 8.11% and $600 million of six-year notes bearing
interest at a rate of 7.96%.
    The net proceeds from the sale of the senior notes were used to repay a
portion of the indebtedness under the Company's senior credit facilities which
was incurred to finance the Company's recent acquisition of UT Automotive.
    The senior notes have not been registered under the Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration under the Securities Act and applicable state securities laws or
available exemptions from such registration requirements.